Orangekloud Technology Inc., a Singapore-based tech company listed on NASDAQ, has released its annual financial results for the fiscal year ending December 31, 2024. The company reported a net loss of approximately S$8.6 million ($6.3 million) for 2024, a significant increase from the net loss of approximately S$1.3 million recorded in the previous year. Total sales for the company saw a decrease, with the packaged software solutions segment experiencing a 23.3% drop, from S$4.3 million in 2023 to S$3.3 million in 2024. The no-code platform and mobile application segment also reported a decline in net profit margin contribution for the year ending December 31, 2024, compared to the prior year. The company attributed the reduced sales in part to economic uncertainties and geopolitical factors affecting Singapore. Additionally, increased expenses related to the company's IPO, including registration, consulting, and professional fees, contributed to the net loss. Despite these challenges, Orangekloud continues to focus on its eMOBIQ® No-Code platform, which aims to cater to the needs of SMEs and larger corporations seeking to develop mobile applications without a dedicated software development team.